East Gate Business Park's Hall D3 at 100% occupancy
The more than 9,000 sqm Hall D3 in East Gate Business Park has reached 100% occupancy, according to a press release sent to the Budapest Business Journal.
Developer Wing launched the development of Hall D3 in East Gate Business Park to respond to distinct market needs reflecting increasing demand and increasing interest in the park. The speculative investment project caters to tenants with production, manufacturing, and complex, special warehousing needs, the company says.
Several international corporations have their Hungarian or regional center in East Gate Industrial Park, and five of the 50 largest Hungarian companies also have facilities here. Currently, the whole area of the new hall is leased by two companies. A German company manufacturing kitchen worktops and splashbacks, and one of Hungary's leading facility management companies providing building operation, cleaning, and gardening services now have their offices here.
Hall D3 has a ceiling height suitable for production areas. It is classified as a building suitable for moderate risk fire safety – unlike typical halls that are suitable only for low risk – and has both loading docks and drive-in gates. Offices take up approximately 20% of the area, higher than what is typical for halls on the market built without concluding a lease agreement first. The office unit protrudes from the facade of the building, so offices, showrooms, and test areas get natural light from three directions.
"With the development of Hall D3 in East Gate Business Park, we wanted to achieve a balance between the production and service functions in the park. Monitoring the needs of the tenants is a priority for Wing, and this led to the development of the new hall, which is different from standard halls, with a higher than average proportion of office space. The long-term lease agreements we concluded for the whole area of the hall prove that we did indeed identify a real need," said Zsófia Korda, sales director for industrial developments at WING.
She added, "Increasing turnover in the Hungarian retail sector has generated new warehousing and logistics demand, with a distinct spike in the industrial segment this year. This has been even more defining in terms of the market in 2021 than in years past. We started the expansion of East Gate Business Park under the name East Gate Pro in response to this market situation."
The first two halls of East Gate Pro, announced by Wing in July 2021, will have an area of more than 20,000 sqm and are scheduled to be completed in H2 2022, and four additional halls are planned on the site. Future occupants have flexibility when selecting a hall type and size, which allows for customized arrangements in the buildings. In addition, the new halls, due to their structural properties and technology solutions, will provide a minimum temperature of 16 C, as compared to current warehouses with a minimum temperature of 12 C, resulting in lower heating costs.
East Gate Business Park, situated at the junction of the M0 and M3 motorways, is approximately 20 minutes from the city center and has a bus stop at the entrance. The construction project is financed by UniCredit Bank.